MIRA INFORM REPORT
|
Report No. : |
355004 |
|
Report Date : |
18.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
SFA FOOD AND PHARMA
INGREDIENTS PRIVATE LIMITED (w.e.f. 11.02.2013) |
|
|
|
|
Formerly Known
As : |
SBS SUGARFREE AGENCY
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-12, Megh Malhar, Gavand
Path, Gokhale Road, Naupada, Thane (West) – 400 602, Maharashtra |
|
Tel. No.: |
91-22-25390205/ 25340860 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on)
: |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
27.06.2001 |
|
|
|
|
Com. Reg. No.: |
11-132511 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.120
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH2001PTC132511 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNES08866E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHCS2607K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Food
and Pharmaceutical Ingredients. (Confirmed by management) |
|
|
|
|
No. of Employees
: |
10 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was established in the year 2001 and it is engaged in the trading of food and pharmaceutical ingredients. For the financial year ended 2014, revenue of the company has been declined by 40% as compared to previous year revenue and it has reported low margin at 0.79% during the year under review. Rating remain constrained on account of trading nature of business operations along with fragmented and highly competitive nature of industry and working capital nature of business operations. Rating also takes into consideration company’s moderate operating efficiencies marked by its moderate financial profile along with modest net worth base and below average debt coverage indicators. Rating weakness is partially offset by established track record of company’s business operations and extensive industry experience of promoters in trading business. Trade relations are reported as fair. Payments are reported to be slow but correct. In view of aforesaid, the company can be considered for business dealing with some caution. Note: Management of the company has not filed its financial with government department for the year 2015 and same are not available from any sources. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Mahesh Ramkrishna Bivalkar |
|
Designation : |
Director |
|
Contact No.: |
91-9821117093 |
|
Date : |
16.12.2015 |
LOCATIONS
|
Registered Office : |
A-12, Megh Malhar, Gavand
Path, Gokhale Road, Naupada, Thane (West) – 400 602, Maharashtra, India |
|
Tel. No.: |
91-22-25390205/ 25340860 |
|
Fax No.: |
91-22-25340860 |
|
E-Mail : |
|
|
Location: |
Owned |
|
Locality: |
Industrial |
|
|
|
|
Branch Office : |
201, Sujata Industrial Estate, Noori Baba Dargah Road, Thane (West) –
400 601, Maharashtra, India |
DIRECTORS
As on 31.03.2015
|
Name : |
Mr. Shailesh Shashikant Waikar |
|
Designation : |
Director |
|
Address : |
B/103, Vikas Palms, Dr. Ambedkar
Road, Thane – 400 601, Maharashtra, India |
|
Date of Appointment : |
27.06.2001 |
|
DIN No.: |
01350032 |
|
|
|
|
Name : |
Mr. Mahesh Ramkrishna Bivalkar |
|
Designation : |
Director |
|
Address : |
A/12, Megh Malhar, Gavand
Path, Off Gokhale Road, Naupada, Thane – 400 602, Maharashtra, India |
|
Date of Appointment : |
27.06.2001 |
|
DIN No.: |
01350036 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Shailesh
Shashikant Waikar |
4000 |
33.33 |
|
Mahesh
Ramkrishna Bivalkar |
4000 |
33.33 |
|
Shruti
Shailesh Waikar |
2000 |
16.67 |
|
Meenakshi
Mahesh Bivalkar |
2000 |
16.67 |
|
Total
|
12000 |
100.00 |
As on 30.09.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Food
and Pharmaceutical Ingredients. (Confirmed by management) |
|
|
|
|
Products : |
Food
and Pharma Ingredients |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
Germany |
|
|
|
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Terms : |
|
|
Selling : |
Cash and Credit (30/ 60 Days) |
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|
|
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Purchasing : |
Cash and Credit (30/ 60 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users and OEMs
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No. of Employees : |
10 (Approximately) |
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Bankers : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Dinesh Kelkar and Associates Chartered Accountants |
|
Address : |
A/101, Anmol, Sahakar Colony, Brahmin Society, Naupada, Thane (West) –
400 602, Maharashtra, India |
|
Tel. No.: |
91-22-25425527 |
|
Mobile No.: |
91-9821332959 |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ABDPK7414Q |
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|
|
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Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000 |
Equity Shares |
Rs.10/- each |
Rs.0.120
million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.120 |
0.120 |
0.120 |
|
(b) Reserves & Surplus |
14.421 |
14.152 |
9.505 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
||
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
14.541 |
14.272 |
9.625 |
|
|
|
||
|
(3) Non-Current Liabilities |
|
||
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.013 |
0.016 |
0.019 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
0.013 |
0.016 |
0.019 |
|
|
|
||
|
(4) Current Liabilities |
|
||
|
(a) Short term borrowings |
10.500 |
6.500 |
1.500 |
|
(b) Trade payables |
1.320 |
2.233 |
2.523 |
|
(c) Other current liabilities |
0.444 |
0.221 |
1.106 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
12.264 |
8.954 |
5.129 |
|
|
|
||
|
TOTAL |
26.818 |
23.242 |
14.773 |
|
|
|
||
|
II.
ASSETS |
|
||
|
(1) Non-current assets |
|
||
|
(a) Fixed Assets |
|
||
|
(i) Tangible assets |
13.124 |
1.580 |
1.661 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.421 |
9.391 |
0.017 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
14.545 |
10.971 |
1.678 |
|
|
|
||
|
(2) Current assets |
|
||
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
6.202 |
6.767 |
4.279 |
|
(c) Trade receivables |
1.979 |
1.079 |
1.400 |
|
(d) Cash and cash equivalents |
2.953 |
4.425 |
7.327 |
|
(e) Short-term loans and
advances |
1.139 |
0.000 |
0.089 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
12.273 |
12.271 |
13.095 |
|
|
|
||
|
TOTAL |
26.818 |
23.242 |
14.773 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
33.626 |
55.460 |
58.217 |
|
|
Other Income |
0.354 |
0.313 |
0.43 |
|
|
TOTAL
(A) |
33.980 |
55.773 |
58.647 |
|
|
|
(Slow
down Market) |
||
|
Less |
EXPENSES |
|
|
|
|
|
Consumption |
21.484 |
35.810 |
35.916 |
|
|
Employees benefits expense |
6.559 |
4.665 |
4.477 |
|
|
Other expenses |
4.737 |
8.292 |
11.227 |
|
|
TOTAL
(B) |
32.780 |
48.767 |
51.620 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
1.200 |
7.006 |
7.027 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.097 |
0.119 |
0.104 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.103 |
6.887 |
6.923 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
0.736 |
0.123 |
0.123 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
0.367 |
6.764 |
6.800 |
|
|
|
|
|
|
|
Less |
TAX (H) |
0.098 |
2.117 |
2.276 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
0.269 |
4.647 |
4.524 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Commission Received |
3.317 |
1.408 |
NA |
|
|
Consultancy Charges |
0.457 |
1.640 |
NA |
|
|
TOTAL
EARNINGS |
3.774 |
3.048 |
NA |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Products Imports |
16.140 |
31.899 |
32.876 |
|
|
TOTAL
IMPORTS |
16.140 |
31.899 |
32.876 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
24.08 |
387.25 |
377.00 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
40.000 |
|
|
|
|
|
The above information has been parted by Mr. Mahesh Ramkrishna Bivalkar
(Director)
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from operating activity |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.80 |
8.38 |
7.77 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
3.57 |
12.63 |
12.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.37 |
29.10 |
46.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.47 |
0.71 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.72 |
0.46 |
0.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.00 |
1.37 |
2.55 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
0.120 |
0.120 |
0.120 |
|
Reserves & Surplus |
9.505 |
14.152 |
14.421 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
9.625 |
14.272 |
14.541 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
1.500 |
6.500 |
10.500 |
|
Total
borrowings |
1.500 |
6.500 |
10.500 |
|
Debt/Equity
ratio |
0.156 |
0.455 |
0.722 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
58.217 |
55.460 |
33.626 |
|
|
|
(4.736) |
(39.369) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
58.217 |
55.460 |
33.626 |
|
Profit |
4.524 |
4.647 |
0.269 |
|
|
7.77% |
8.38% |
0.80% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last four years |
Yes |
|
27 |
Reasons for variation <> 20% |
Yes |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION:
Subject was promoted by two industry professional with a
combined experience of more than
20 years. Their endeavour is to connect
nutrition with health. The company represents renowned global
manufacturers of food and
pharmaceutical ingredients such as Beneo group and Nutrinova AG of Germany in India. The company was
formed with a vision to introduce latest developments in food and
pharmaceutical ingredients technology with an aim to provide options of having
guilt free indulgence! In pharmaceutical ingredients field, the company offers
novel technological solutions based on unique physiochemical properties of their products to help create novel drug delivery systems.
The main commercial
activities of the company
involves making these products available
in India through their network and giving back office support to the market
support activities such as branding, sales
support, customer care and data management.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Other loans and advances (From Directors,
Repayable on Demand) |
|
|
|
Shailesh Shashikant Waikar |
5.650 |
3.250 |
|
Mahesh Ramkrishna Bivalkar |
4.850 |
3.250 |
|
Total |
10.500 |
6.500 |
INDEX
OF CHARGES
No Charges Exist for Company
FIXED ASSETS
·
Building – Office
Premises
·
Furniture and Fixtures
·
Office Equipments
·
Computers
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.64 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.72.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.